Home Insurance Ins & Outs...

462016 — Mon, 20 Dec 2010 01:04:00 GMT

You’ve done the hard work: your seller has successfully sold their home due to your efforts, and the ink is dry on the closing papers. While ushering a successful sale is undoubtedly your primary job as a REALTOR®, it’s important to build a relationship with your client to ensure you might work with them again in the future—or get a referral.

One way to do this is to give your client some advice on choosing homeowners’ insurance once they settle into their new place. It’s a daunting task that your client might ask you about—if they do, or even if they don’t, here are some basic tips to impart to your client to make choosing homeowners’ insurance an easier task:

1. Get past the advertising fluff. When selling your home and buying a new one, your mailbox becomes a sieve of solicitations—and one of the front-line offenders are homeowners’ insurance companies. Our quick scan of the latest bunch of mailings reveals quite a few boasting fancy packaging and idealistic images of beautiful homes with magazine-ready design schemes. They’re often printed on pricey paper stock and feature florid writing poetically telling you how they can help you protect your home and all the prized possessions it contains, better than any other company can. As a REALTOR®, stress the fact that just because a company has the advertising budget for big mailings, doesn’t necessarily mean it’s the best. It’s quite possible that the homeowner might do just fine with a company that sends them a mailing—but they might do even better with another company that never sends solicitation mailings. The boil-down is this: don’t just go with the first thing you see, even if it seems good.

2. Consult your state’s resources. Choosing from a huge array of large national insurance companies can be daunting; that’s why it’s a good idea to start in your state. Your state will likely have an insurance, consumer advocacy or chamber of commerce website offering homeowner’s insurance tips (just an example, find one for New York State at www.ins.state.ny.us/hmonindx.htm). The benefit to a state site is that it gives you a good idea as to what your insurance covers given your particular state’s weather conditions and home wear and zoning issues. These sites also give information on important state codes; it’s critical to check that the company you’re researching understands these codes extremely well. Finally, many state sites list consumer complaints against particular companies from residents in your state.

3. Make sure the coverage is not only extensive, but appropriate for you. A homeowner may come across a potential company with a good service record and reputation, but that doesn’t mean its ideal for them. Look at the details of what the company focuses on. If a company looks great overall, but they emphasize flooding and water damage in all their marketing materials, it’s not going to be right for you if you live in Arizona—no matter how great a company it is. Make sure the company’s strong points match the needs of your particular home and geographical area.

4. Familiarize yourself with the claim process. The insurance company might advertise the fact that you can make frequent claims for repairs, but many companies hike up your premium if you frequently file small claims. This isn’t necessarily unethical, as it’s often stated in the fine print, but it could definitely hurt your wallet; that’s why it’s smart to ask upfront how both routine/small and catastrophic claims might affect premiums. At the most, asking will ultimately save you money, i.e., you can do a small repair yourself instead of filing a claim for it, and ultimately the money you spend on the repair might be less than the premium hike.

5. Know the condition of your home. It’s impossible to effectively choose homeowners’ insurance unless you know the condition of your home, inside and out. For instance, if you have a roof that’s prone to leakiness and not in the best shape, you’ll obviously want to avoid a policy that doesn’t cover this sort of thing. The best way to learn about issues in your home is to get a home inspection of your new home by a certified, reputable home inspector. The home inspector will examine your new home for any potential faults and issues to watch for; this is incredibly powerful ammunition in choosing the right homeowners’ insurance, and can save a lot of money in the event anything goes wrong and you find yourself in the claim-filing process.

Home Warranties

462016 — Sun, 03 Jan 2010 18:23:00 GMT

Smart Protection For Buyers & Sellers Alike

Protect Yourself from Unexpected Home Repair Costs

Whether you’re selling or buying, it is the smart and cost effective thing to do: protect your largest investment with a Home Warranty.

Buy or sell any home with confidence knowing it includes valuable home warranty protection. The warranty will help protect you from the unexpected, high costs of repairs or replacements to the major systems and appliances in the home. When a covered system or appliance breaks down, you simply contact your Home Warranty provider who will arrange for the prompt repair or replacement of such.

This little known and understood coverage can save you hundreds if not thousands of dollars!

As a Seller

You’re protected while your home is on the market. Mechanical system failures are covered during the listing period for up to one year - you simply pay a low deductible.

You have a marketing edge over the competition. A Home Warranty can help sell your home faster and closer to your asking price. The warranty enhances your home’s value to prospective buyers and helps secure the best possible price for your home. It separates it from the competition next door by making it more attractive.

You’re helping prevent post-sale disputes. If an unexpected failure of major systems or appliances occurs in your home after the sale, the buyer turns to your provider for the resolution instead of you. Simple, fast and reliable service.

As a Buyer

You’re prepared for the unexpected. The cost of repairing or replacing appliances and systems in your home can be budget-breaking, especially when you have just purchased a new home. You know they can’t last forever, so you need to plan ahead.

You save yourself time and keep it simple. A Home Warranty provides the convenience of one source for almost all repair or replacement needs. Prompt, reliable service is available 24 hours a day, 7 days a week.

You’re protected year after year. Almost all Home Warranty Policies are renewable annually, so you’re always prepared for the unexpected.

Search results matching tags 'Announcements', 'Buyer Information', and 'Product Reviews'

Home Insurance Ins & Outs...

Home Warranties

Smart Protection For Buyers & Sellers Alike

Protect Yourself from Unexpected Home Repair Costs